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Posts Tagged ‘Madoff employees on trial’

Madoff Trial: Defendants Hope to Put SEC ‘On Trial’

Posted by Larry Doyle on November 6th, 2013 10:27 AM |

How did Lehman Brothers CEO Dick Fuld escape the clutches of justice while steering his firm right into bankruptcy? He played the card that many Wall Street execs have played over the last 5 years.

Fuld and other Wall Street execs maintained that the regulators were right there in their offices — or perhaps more aptly described, “in bed with” them — so if the brakes were not applied to what they were doing, then how can they be held accountable. Hell, it worked for Fuld et al so why not keep playing the card, right?

We see an iteration of this very play being called once again in the ongoing trial of former Madoff employees. Bloomberg touches upon it this morning in writing: (more…)






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